Apparently directors of big companies accrue an average of £259,947 per year in pension benefits.
This pension figure is supported by a pension fund that averages some £4.74 million (according to the TUC).
Could you manage on a pension fund of that scale?
Seriously though everyone really needs to know just how much they need to have in their pension fund in order to retire when they want to and to ensure that they won’t run out of money during their lifetime.
So what is your figure?
One of the key aspects of Financial Planning is to know your retirement number. This then enables some serious planning to take place.
How much do you need to save between now and your intended retirement age? What degree of investment risk do you have to take to hit that target?
And what other financial resources do you need to bring to bear to have the retirement income you need?
It may not be as much as £4.74million but whatever it is you should certainly know your number.
